INSURANCE NEWS
Business Moves: Private Equity Firm J.C. Flowers Acquires Italian Insurance Broker Caleas; UIB International Sells Minority Stake in UIB Insurance Brokers (India)
Private Equity Firm J.C. Flowers Acquires Italian Insurance Broker Caleas J.C. Flowers & Co. (JCF), a private equity investment firm that focuses on financial services investments, announced that investment vehicles affiliated with JCF — JCF Funds — have acquired Caleas …
Four Gabriel House Residents Sue Over Assisted Living Facility’s Deadly Fire
Two lawsuits have been filed over the tragic fire at a Fall River, Massachusetts assisted living facility that took the lives of 10 residents and injured 30 others on July 13, making it the state’s deadliest residential fire in decades. …
Hong Kong Sets Rainfall Record as Deluge Disrupts Flights
Hong Kong set a rainfall record for August after violent storms lashed the city on Tuesday, leading to flight delays and commuter chaos. About 356 millimeters (14 inches) of precipitation was recorded at the Hong Kong Observatory’s headquarters through to …
Air Lease Profit, Revenue Rise on Insurance Payout and Aircraft Demand
Aircraft lessor Air Lease Corp. reported a rise in second-quarter profit and revenue on Monday, due to a $344 million insurance claim settlement plus robust aircraft rental demand. Aircraft lessors have benefited from strong lease rates as airlines rush to …
Trump Media CEO Nunes Loses Defamation Lawsuit Over Rachel Maddow Show
A federal judge dismissed a defamation lawsuit by Devin Nunes, the former California congressman and now chief executive of Trump Media and Technology Group, against NBCUniversal over a comment by Rachel Maddow about his dealings with a suspected Russian agent. …
US Weather Boss During ‘Sharpiegate’ Nears Return to NOAA
Days after floods killed at least 135 people in Texas Hill Country, weather scientist Neil Jacobs appeared before a Senate committee as the nominee to lead the US agency that oversees forecasting. He vowed to create a cutting-edge weather modeling …
Fla. Insurance Agent Charged With Premium Theft Now in Prison, Has Paid Restitution
A high-profile southwest Florida insurance agent who pleaded “no contest” to absconding with thousands of dollars in premiums has been sentenced to just over a year in prison. Reid J. McDaniel, 33, of North Fort Myers, was charged a year …
Trump Media CEO Nunes loses defamation lawsuit over Rachel Maddow show
A federal judge dismissed a defamation lawsuit by Devin Nunes, the former California congressman and now chief executive of Trump Media and Technology Group, against NBCUniversal over a comment by Rachel Maddow about his dealings with a suspected Russian agent. …
California Defense Contractor and Private Equity Firm to Pay $1.75M Over Cybersecurity
Two California companies agreed to pay $1.75 million for failing to comply with cybersecurity requirements in an Air Force contract. Defense contractor Aero Turbine Inc., in Stockton, California, and private equity company Gallant Capital Partners LLC, in Los Angeles, settled …
Parrish Named CEO of Howden U.S., Is Sued by Former Employer Marsh
Mike Parrish has been named the chief executive officer of Howden U.S., a new U.S. retail broking business of Howden, and he will start in September subject to his “fulfillment of relevant contractual obligations.” Meanwhile, Parrish—previously the head of rival …
Beijing Faces More Torrential Rainfall Days After Deadly Floods
Beijing is getting drenched by another round of heavy rain, one week after torrential downpours across parts of the Chinese capital unleashed flooding that claimed at least 44 lives. The city’s meteorological service elevated its rainstorm warning signal to red …
Business Moves: Specialist Risk Group Acquires Ecclesia’s Dutch and Belgian Operations; Optio Completes Purchase of UK MGA Custodian Management
Specialist Risk Group Acquires Ecclesia’s Dutch and Belgian Operations Specialist Risk Group (SRG), the London-based global insurance intermediary, announced it has completed the acquisition of German broker Ecclesia’s businesses in the Netherlands and Belgium. Originally announced in January 2025, this …